"On July 31, a company declared a cash dividend of $0.25 per common share to the shareholders of record on August 15. The cash dividend will be paid on August 25. This company has 500,000 shares authorized and 100,000 shares outstanding. There are 1100 shares in Treasury Stock. Prepare the journal entries required on July 31, August 15 and august 25th" "A company is authorized to issue 750,000 shares of $5 par value common stock. Prepare journal entries to record the following selected transactions that occurred during the company's first year of operations: Jan. 10

Sold 102,000 shares of common stock for $8 cash per share.

15

Exchanged 10,000 shares of common stock for equipment with a market value of $80,000.

Feb. 1

Exchanged 500 shares of common stock for $3,000 of legal services Incurred during the company's organization."